1 Entrepreneurship, Competitive Dynamics, and a Resource-Based View of Competitive Advantage Margaret A Peteraf Tuck School of Business at Dartmouth 100 Tuck Hall Hanover, NH 03755 USA margaret.peteraf@dartmouth.edu In The Competitive Dynamics of Entrepreneurial Market Entry, G. Markman and P. H. Phan, eds., The Johns Hopkins University series on Entrepreneurship, Edward Elgar: Cheltenham, UK. pp. 176-178 (2011). At the time that “Unraveling the Resource-Based Tangle” (Peteraf & Barney, 2003) was written, two serious criticisms of resource-based theory had emerged that we believed were based on some misunderstandings and that had not yet been fully addressed. The first was that the theory was tautological in its treatment of competitive advantage; the second was that it did not apply to dynamic environments and therefore had little relevance for the study of such important topics as entrepreneurship, innovation, technical change, competitive dynamics, etc. (See for example the critiques of resource-based theory offered by Bromiley & Fleming, 2000; Foss & Knudsen, 2003; Mosakowski & McKelvey, 1997; Priem & Butler, 2001; Schulze, 1994).) Our article was written as a direct response to Foss & Knudsen (2003) and was paired with theirs when it was published. Addressing these criticisms gave us an opportunity to show how our earlier articles (Barney, 1991 and Peteraf, 1993) related to one another, to update them in light of subsequent